I am still scratching my head over CRN. Obviously there was a...

I am still scratching my head over CRN. Obviously there was a bounce yesterday and flat today. It seems the market believed it was an overaction for the stock to lose almost 12% in a day. What I don't get is how a broker can have a price target of $2.20. Last year when met coal prices were high the stock closed ONCE over $2.20. This during a period of massive profits.
Yes I get it that China will at some stage ramp up met coal buying but China only accounts for a small % of Coronado met coal sales. I can't remember where but I recall reading somewhere is was around 9% of Coronado's sales

Is this broker talking shit or what? Is the price target within a year or more? How does he know there will be a supportive met coal market in 2023? For all anyone knows it could tank as well. Strong FCF? Really? He must be looking at another coal company or maybe looking at the 2022 Annual Report. LOL. Dividend yield? So far 1 cent USD. What a great broker. LOL

Coronado Global Resources Inc (ASX: CRN)The Coronado share price is up 5% to $1.53. This morning, Goldman Sachs responded to the coal miner’s half-year results by retaining its buy rating with a $2.20 price target. The broker commented: “We rate CRN a Buy on: (1) Strong FCF & Div yield, (2) a supportive met coal market in 2023 on supply risks & China reopening.”


Only the US operations feed China. The US operations also export to Europe, Brazil and India. So how does China re-opening improve Coronado's ability to derive more income? It will be f all